The Federal Reserve has kept interest rates near zero since 2008, but the economic boost comes at the expense of these savers.

Canceling vacation plans

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Henry Baker III, 75Jacksonville, Fla.

Just a few years ago, I was earning 4.7% interest on my $80,000 in savings. The income paid for a week-long vacation for me and my wife, plus more.

In 2011, that rate dropped down to 0.15%. It's ridiculous!

I took everything out of CDs at the beginning of this year when my bank closed (another unfortunate sign of the times), and I went to a bank that offered a special checking account with a 0.5% interest rate.

Within six weeks of opening that account, it dropped to 0.35%. That said, it's still better than any other investments I can find, including bonds.

About a quarter of my net worth is in that checking account. The rest of my funds are invested in mutual funds and a few individual stocks.

When a retiree today loses investment value, they have to pull from somewhere to meet their expenses. As you trim interest rates, it starts hitting us in the pocket.